It was a house built in Hevron called the “Machpella house”, that Jews purchased from the Arab owner and then moved in. They were later forced to leave because the original purchaser failed to admit that he sold it to the Israeli courts for fear of his life.
Meanwhile, it was found out that he did in fact sell the house to Jews and he was sentenced to death. (Not sure if the sentence was ever carried out.) In the meantime the Machpella House is vacant since the Jews who legally purchased it were forced to leave by the Israeli government. Nobody wins.
Anyway, the leadership of the Arabs (or Palestinians) have made it clear that they are not interested in money or even their own lives (since they have a history of strapping bombs to their own people and sending them to us). They are committed to stopping Jews from living in Israel. Their respective charters spell it out and the goals are confirmed by a number of public speeches.
So, it’s really not about land or refugees or real estate or anything of the things that the common media tries to portray it as. If all that it took was to pay the Arabs and then they would let us live in peace, that would make things so easy.